The Greater Cochin Development Authority (GCDA) plans to launch revenue-generating projects on its land at Marine Drive. The GCDA has issued an Expression of Interest (EoI) from investors to implement projects that are feasible and will generate revenue to both the authority and the investor alike, following all the prevailing rules and statutory provisions.

As per the document, the EoI process is only a preliminary step to gauge interest from potential investors and is not part of the formal procurement process. Based on the responses, the GCDA shall finalise the theme of the project, financial model, concession period and all other factors.

If GCDA decides to proceed with the selected theme of the project after reviewing the submissions, the formal process will be initiated and further procedure of inviting the potential private entities to bid as private vendor on Public Private Partnership (PPP) mode.

Interested investors can do a presentation focusing on the indicative technical approach to be adopted, proposed activity mix, estimated project cost, suggested revenue modes with proper justification, proposed revenue generation strategy (identification and quantification of revenue streams, making their own assessments of revenue potential) and techno–financial feasibility proposal.

The extent of land where the projects will be launched is approximately 50.3 cents of land. At present, the land is filled with thick vegetation, including trees and bushes. The project site is located in a prime area abutting the Abraham Madamakkal Road.

The site has access to the road from both sides. This location is advantageous due to its proximity to key transportation routes, making it highly accessible for businesses and residents, according to the GCDA.

The proposed project site comes under the Master Plan for the Cochin Marine Drive Scheme. The site is a commercially important and valuable site with numerous commercial and residential buildings nearby, and also numerous projects are coming up in the area. The land value in this area is considered to be the highest in Kochi, and the site is strategically located in the city, the document notes.The  GCDA document says that the project is being mooted as part of its tourism, commercial & public infrastructure development initiatives and to develop a project in Marine drive that makes

effective utilization of the land and will serve as a revenue generator to the authority on a Public Private Partnership (PPP) basis.